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Violation Tracker Individual Record

Company: Facebook Inc.
Current Parent Company: Meta Platforms Inc.
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Recap of Ownership Changes:  subscribe to see this data field
Penalty: $100,000,000
Year: 2019
Date: July 24, 2019
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The SEC announced that Facebook would pay $100 million to settle allegations that it made misleading statements to investors about the possibility that the data of its customers could be misused. For more than two years, the SEC said, Facebook's public disclosures presented that risk as merely hypothetical when it knew that a third-party developer had actually engaged in such misuse.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: information technology
Specific Industry of Current Parent: internet services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.